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Which of the following is a contra account?
Inventory Management
The practice of overseeing and controlling the ordering, storage, and use of components that a company will use in the production of items it will sell, as well as overseeing and controlling quantities of finished products for sale.
Merchandise Inventory
The total value of a company's goods that are ready for sale at any given time, including both finished goods and goods in various stages of production.
Consigned Goods
Items that are sent by their manufacturer to a third party, but still remain the property of the manufacturer until sold.
Goods in Transit
Items that have been shipped by a seller but have not yet been received by the buyer.
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